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Quickmedx inc.

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Introduction

Health is a key aspect in human life that facilitates the achievement of set goals and objectives at the personal and organizational levels. Besides, due to the fact that diseases and infections are inevitable, healthcare service delivery becomes a critical factor for the survival and wellbeing of people. However, people have an opportunity of minimizing the chances of suffering from diseases and infection through leading a healthy lifestyle and avoiding any other activities which may be of the potential risk of sicknesses. These include healthy eating habits, avoiding drug abuse such as smoking and drinking, and also through regular exercising in order to ensure physical fitness. Currently, as a result of globalization and other scientific-technological advancements in the health sector, patients and other consumers require fast, efficient, and effective medical services. Therefore, healthcare service providers are required to possess high levels of professionalism and experience in order to meet the demand of the patients. Additionally, due to the increased riskiness of infections due to changing climate, global warming, and pollution, more people are becoming sick every day. This has led to an increase in the demand for medical services.

QuickMedx inc. was one of the healthcare service providers purposed to offer quick medical services to patients and other consumers healthcare services. Their goal was to fill the market gap in the health sector where patients were being for to wait for long hours in queues before they got medical attention. Additionally, they focused on meeting needs of the patients of all ages through fast services such as diagnosis, testing, treatment, and prescription. This paper is purposed to provide a better understanding of QuickMedx Inc. by looking at its model, how best it can grow, and its innovation.

Question 1) What is the QuickMedx business model? (Based on “QuickMedx Inc.”) Define and explain.

QuickMedx uses a retail business model (pg. 7) whereby their services and products such as drugs were given directly to the final consumer. Generally, a business model can be explained as a plan or strategy of how a business would achieve its goals and objectives. In this case, QuickMedx focused on providing reliable and efficient medical services to people of diversified ages. The following is the analysis of the QuickMedx business model;

Target market – QuickMedx target market was all people above the age of 18 months who were seeking the fastest diagnostic and prescriptive medical services. In this case, they assumed that parents would seek these services for themselves and for their children. Additionally, the company targeted people of all social classes beginning from the low-income earners who did not have insurance cover, middle- and upper-income levels. It also targets people who are self-employed and lacked employer benefits.

Services offered – the company provided diagnostic, testing, and prescriptive services to their customers with accuracy and speed. It focused more on the easy-to-diagnose bacterial and viral infection which c would be easily diagnosed and treated. These included ear infections, strep throat, female bladder infection for females over 12 years, allergies, influenza, pregnancy, and poison ivy. The facility also offered vaccination for diseases such as measles and tuberculosis.

Competitive advantage – the company based its success on the fact that its services were faster compared to all other medical facilities, it had qualified and certified nurse practitioners and provided all the services including, diagnosis, lab testing, and prescription. The speed was however its main competitive advantage.

Marketing and advertisement – the company used direct mail and radio marketing during its early stages of operation. However, with time it expanded to both local and international media advertisement where it hoped to grow its name and enhance awareness in the market.

Strategic location – the company was located in different states in the Cub Foods store kiosk. However, its facilities were well equipped for all necessary services to be done with effectiveness. The company delivered its services at a faster and convenient rate.

Working Hours – in order to meet the demand and also compete daily in the market QuickMedx served for longer hours starting from 9.am to 9.pm. After all, it focused on outpatient services.

Question 2) Is it viable? Please explain with supporting evidence.

Based on the fact that QuickMedx Inc. was formed to offer services and other products to the final consumers. It is reasonable to believe that the retail growth strategy was viable. Besides, the longer the supply chain, the lower the quality of the final services offered as well as expensiveness due to increased expenses. Therefore, the adoption and implementation of a retail business model was a perfect decision for the achievement of the company goals. One of the benefits of the retail business model is direct access to customers which provides an opportunity for a better long-term relationship to be built. Additionally, it enables the providers to understand the exact needs and demands of customers firsthand. This helps the company to improve its services and customize them according to the needs of the client (Solntsev, and Zozul’ov n.p)

Question 3) How should QuickMedx grow?

There are various ways in which QuickMedx can grow. Firstly, the company should understand its customers well. This is because people are diversified and different clients have different needs hence understanding the customer would ensure that they provide satisfactory services to them. Secondly, the business should ensure that it protects and retains the current customers as it continues with its search for new potential customers. Growth is more stable when there is a strong customer base. Offering great customer services would also enable the business to grow through referrals since satisfied customers like referring their friends for similar services (Khan, n.p)

Social media is the biggest audience in the world. Therefore, QuickMedx inc. should focus on social media advertising as it provides a wide range of both global and local customers. This will help boost the awareness of the company and its services to the customers. Social corporate responsibility is one of the biggest appeals of any company to society. Through participation in social corporate responsibility activities, the company has a great potential of attracting new potential customers and achieving its growth. However, the company should also invest in continuous research and innovation in order to ensure that it keeps up with the current technology by adopting and implementing medical innovations such as telehealth and telemedicine. This would help the company to remain competitive in the market.

Question 4) Is QuickMedx a disruptive innovation? Refer to this description in the case and apply it to QuickMedx.

Firstly, we can define a destructive innovation as an innovation in which a product or service takes a strong base root at the lower levels of the market and advances up the market thus replacing the already existing strong competitors. The goal of the QuickMedx is to serve the market with accuracy, efficiency, and speed thus relieving people the stress of waiting in long queues just to get minor and poor services from already established medical service providers. Besides, QuickMedx offers non-discriminatory services to people regardless of their social class and their income levels (Christensen, Bohmer, & Kenagy, pg. 105)

Currently, people are busier with their work or families hence they do not wish to waste their time at any moment. Hence, any service provider who provides quality and timeliness is a big center of attraction in the market. The fact that QuickMedx offers services to people who have insurance covers, as well as the patient without covers, gives them a wide customer base. Besides the company charges a uniform amount for its services which includes diagnosis, testing, and prescription. This makes it affordable to many people hence it will attract more customers.

Conclusion

\. QuickMedx Inc. is a healthcare company that was formed with the goal of providing in faster medical services to people from the age of 18 months. It focuses on easily diagnosable and treatable bacterial and viral infections such as strep throat, female bladder infection for females over 12 years, allergies, influenza, pregnancy, and poison ivy. The company uses a retail business model in its operation. This strategy is the most effective for the business was it gives the company direct interaction with its customers and other clients and provides an opportunity for the company to understand better the needs of the customers for improvement.

Some of the growth strategies that the company can use to grow are by adopting and implementing social medial marketing, understanding its customers, and participating in corporate social responsibility activities. Finally, the company innovation has been explained as a disruptive model. This is because it has unique in its service delivery, that is fast and timely services to the customer. This provides an opportunity for it to build a stable competitive base and growth until the level where it can be able to compete with the largest global medical providers. Besides, disruptive innovation is the one that is able to build a strong base for itself and in the future be able to overtake the strongest competitors.

Work Cited

C.M. Christensen, R. Bohmer, and J. Kenagy, “Will Disruptive Innovations Cure Health Care?” Harvard Business Review (September–October 2000): 103–111

Khan, Mohammad Husain. “Game Theory: Business and Growth Strategies.”

Solntsev, M., and O. Zozul’ov. “Growth strategies of the company on the industrial services market.” (2020).

Tu, Ha T., and Genna R. Cohen. “Checking up on retail-based health clinics: is the boom ending?.” Issue Brief (Commonw Fund) 48 (2008): 1-11.

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